CTC full form, What is the Full Form of CTC?

CTC full Form

Cost to Company

CTC Full Form cost To CompanyCTC is nothing but the overall cost of an employee to a business or company. CTC includes various factors like basic salary and allowances like travel allowance, house rent allowance, leave allowance, conveyance allowance, phone allowance, medical allowance, etc.

What is the Full Form of CTC?

Any individual applying to a professional company is always expected to fill in his current CTC and the expected CTC which is one of the essential criteria to employ an individual. Nonetheless, there is a sizable difference between the take-home or net salary and CTC which even experienced people are yet to understand.
While switching jobs, most people tend to get convinced with the hike in CTC and later be disappointed to see that the net takeaway amount has not increased. This is because CTC includes the perks, contributions, PF, various benefits, and other contributions. And the net salary is calculated after deducting the amount for the benefits and perks. This is something to be completely understood by every employee.

CTC full form in salary

A job seeker always looks out for a hefty pay package. Many times after going through the selection process, the HR executive put forth the CTC or cost to the company before the prospective employee.

A new job seeker often gets overwhelmed by looking at the large figure as he thinks that it is the salary that he will be taking home. Then comes the payday and he gets a shock to see a lesser amount falling in his hand. So he wonders, “Where did that other money go?”

What is CTC?

CTC Full Form

CTC means Cost To Company and in simple terms, it means the expenses incurred by the employee’s work tenure by the employer that is the company. Thus, a CTC shows the amount of money the company is willing to spend annually on the employee to retain his services.

There are many factors added to come to a final CTC figure. The employee has a base salary to which the company adds benefits and perks. These include the dearness allowance, medical allowance, house rent allowance, health insurance, entertainment, and conveyance allowance, and the company’s contribution towards the provident fund.

Other things that may be added to the CTC are the performance bonus as well as overtime allowance.

Apart from the basic salary of the employee, these are the different perks given by the company and thus, they are termed as “Cost to Company”.

The CTC can be manipulated by the employee for his benefit by converting many indirect allowances to direct allowance. We will talk about this in detail later.

But it is necessary to understand that cost to the company and take-home salary do not mean the same thing and a person seeking a job should learn this difference before accepting the post.

Difference between take-home salary and CTC & CTC Full Form

As mentioned earlier, CTC is the total of all the benefits added to your basic salary to give a gross salary and then adding the company’s contribution towards the provident fund, thus giving the final cost to the company.

Many of the above-mentioned components that contribute towards building the CTC (various allowances, bonuses, etc) are taxable and there is income as well as the professional tax to be cut.

Therefore, what you get in your hand after calculating all the deductions and taxes is the “Take Home Salary” or the Net Salary.

A person’s payslip always gives the details about the breakup of funds and explains at a glance your income and your deductions to give a net amount that you are entitled to take home that month.

Amongst the deductions are also considered the pay cuts on account of unpaid leaves or loans taken from the company, as the EMI is deducted from the monthly pay and finally, the employee’s contribution towards the provident fund.

Thus, as we can see, CTC gives a wider picture of the expenses incurred during the year on a particular employee and the Net Salary is the money the employee gets per month after all the possible deductions have been made.

CTC Full Form: Circulating Tumor Cells

Full-Form of CTC stands for Circulating Tumor Cells. Any cancerous tumor consists of billions of cells that harbor genetic mutations (modifications), which drive them to divide, grow, and invade the tissue where they are situated or embedded.

Full Form of CTC: Chiba Television Broadcasting Corporation

CTC Full-Form refers to Chiba Television Broadcasting Corporation. It is a Japanese Commercial Terrestrial Television Broadcasting Company, which is headquartered in Chiba.

ctc full form

CTC Full Form: Central Texas College

CTC Full Form stands for Central Texas College. It is a community college located in Killeen, Texas. CTC was founded in the year 1965 and has numerous branches all over the world. It was basically established by Central Texas citizens to serve Bell County in Texas.

About Govt Jobs Naukri

Check Also

wifi Full Form

WiFi Full Form, What Is Wireless Fidelity?

WiFi Full Form Wireless Fidelity WiFi Full Form is Wireless Fidelity. It normally refers to systems that …

Leave a Reply

Your email address will not be published. Required fields are marked *